Assets (Tables)

3 Months Ended

Mar. 31, 2024

Assets

Schedule of portion of Veeco's assets (excluding cash balances) that are measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
	(in thousands)
March 31, 2024
Cash equivalents
Certificate of deposits and time deposits	$	84,211	$	—	$	—	$	84,211
Corporate debt		—		2,655		—		2,655
U.S. treasuries		9,999		—		—		9,999
Money market cash		21,363		—		—		21,363
Total	$	115,573	$	2,655	$	—	$	118,228
Short-term investments
U.S. treasuries	$	46,464	$	—	$	—	$	46,464
Government agency securities		—		25,425		—		25,425
Corporate debt		—		50,997		—		50,997
Total	$	46,464	$	76,422	$	—	$	122,886
December 31, 2023
Cash equivalents
Certificate of deposits and time deposits	$	74,262	$	—	$	—	$	74,262
Corporate debt		—		1,988		—		1,988
Money market cash		21,587		—		—		21,587
Total	$	95,849	$	1,988	$	—	$	97,837
Short-term investments
U.S. treasuries	$	59,493	$	—	$	—	$	59,493
Government agency securities		—		41,818		—		41,818
Corporate debt		—		35,409		—		35,409
Commercial paper		—		9,944		—		9,944
Total	$	59,493	$	87,171	$	—	$	146,664

Schedule of amortized cost and fair value of available-for-sale securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
	(in thousands)
March 31, 2024
U.S. treasuries	$	46,565	$	—	$	(101)	$	46,464
Government agency securities		25,455		—		(30)		25,425
Corporate debt		51,098		—		(101)		50,997
Total	$	123,118	$	—	$	(232)	$	122,886
December 31, 2023
U.S. treasuries	$	59,541	$	3	$	(51)	$	59,493
Government agency securities		41,843		6		(31)		41,818
Corporate debt		35,447		9		(47)		35,409
Commercial paper		9,944		—		—		9,944
Total	$	146,775	$	18	$	(129)	$	146,664

Schedule of fair value and unrealized losses of available-for-sale securities in a loss position

	Continuous Loss Position				Continuous Loss Position
	for Less than 12 Months				for 12 Months or More
			Gross				Gross
	Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses
		(in thousands)
March 31, 2024
U.S. treasuries	$	46,464	$	(101)	$	—	$	—
Government agency securities		25,425		(30)		—		—
Corporate debt		45,471		(98)		1,495		(3)
Total	$	117,360	$	(229)	$	1,495	$	(3)
December 31, 2023
U.S. treasuries	$	43,118	$	(50)	$	—	$	—
Government agency securities		34,885		(31)		—		—
Corporate debt		23,262		(33)		2,618		(15)
Total	$	101,265	$	(114)	$	2,618	$	(15)

Schedule of contractual maturities of securities classified as available-for-sale

	March 31, 2024
	Amortized		Estimated
	Cost		Fair Value
		(in thousands)
Due in one year or less	$	112,231	$	112,050
Due after one year through two years		10,887		10,836
Total	$	123,118	$	122,886

Schedule of inventories

	March 31,		December 31,
	2024		2023
	(in thousands)
Materials	$	144,793	$	139,884
Work-in-process		75,344		71,278
Finished goods		3,670		6,183
Evaluation inventory		19,459		20,290
Total	$	243,266	$	237,635

Schedule of property, plant, and equipment

	March 31,		December 31,
	2024		2023
	(in thousands)
Land	$	5,061	$	5,061
Building and improvements		61,292		61,679
Machinery and equipment (1)		182,811		181,180
Leasehold improvements		53,009		52,913
Gross property, plant, and equipment		302,173		300,833
Less: accumulated depreciation and amortization		186,876		182,374
Net property, plant, and equipment	$	115,297	$	118,459

(1) Machinery and equipment also includes software, furniture and fixtures

Schedule of intangible assets excluding goodwill

	March 31, 2024						December 31, 2023
			Accumulated						Accumulated
	Gross		Amortization				Gross		Amortization
	Carrying		and		Net		Carrying		and		Net
	Amount		Impairment		Amount		Amount		Impairment		Amount
	(in thousands)
Technology	$	355,928	$	322,997	$	32,931	$	355,928	$	321,923	$	34,005
Customer relationships		146,925		138,154		8,771		146,925		137,649		9,276
Trademarks and tradenames		30,910		30,571		339		30,910		30,269		641
Other		3,746		3,733		13		3,746		3,723		23
Total	$	537,509	$	495,455	$	42,054	$	537,509	$	493,564	$	43,945